Welcome to the KPMG Financial Services insights hub that showcases our understanding of complex business challenges faced by financial services institutions in Belgium.
Over the next decade, the global financial services industry will experience a profound transformation, propelled by tectonic shifts driven by technology, digitization, evolving customer expectations, regulatory changes, and other disruptive forces. This dynamic landscape will witness incremental changes and heightened uncertainty, demanding a fresh mindset to survive and prosper.
European regulations play a pivotal role in enhancing transparency within the financial sector, instilling confidence among both consumers and authorities. However, such legislation goes hand-in-hand with substantial implementation costs, creating an ongoing tension between regulatory compliance and the pursuit of innovative products.
The confluence of factors such as an ageing population, insufficient savings, European regulatory reforms, and advancing technology is compelling financial service providers to pivot their focus towards the customer. This shift is further fueled by the growing demand for customized products delivered at the right moments. The advent of new technology facilitates superior data generation and analysis, broadening access to financial products for an unprecedented number of individuals.
Navigating through these challenges requires a holistic approach, and KPMG is here to assist you in seamlessly tackling these complexities.
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